DAILY COMMODITY MARKET STRATEGY-8 Aug 2014

BASE METAL WRAP: Copper headed for a second weekly decline after imports by China, the biggest user of the metal, fell to the lowest since April 2013.

ENERGY WRAP: Brent and West Texas Intermediate crude climbed for a second day after U.S. President Barack Obama authorized air strikes in Iraq, the second-biggest oil producer in the Organization of Petroleum Exporting Countries.

PRECIOUS METAL WRAP: Gold advanced to the highest level in three weeks, poised to snap the longest run of weekly losses since September, as haven demand increased on unrest in the Middle East and tension over Ukraine.

GLOBAL EVENTS TO WATCH: Consumer Credit m/m, RBA Monetary Policy Statement, Trade Balance, Monetary Policy Statement, BOJ Press Conference, Employment Change, Unemployment Rate, Prelim Nonfarm Productivity q/q, Prelim Unit Labor Costs q/q, Wholesale Inventories m/m.

AGRI COMMODITY
BULLION COMMODITY
CS CHANA (SEPTEMBER)) OVERVIEW:
TREND CONSOLIDATE
SUP1:2890
SUP2:2845
RESIST1:2930
RESIST2:3010
TRADING STRATEGY: SELL ON RISE
CS COPPER (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:427
SUP2:425
RESIST1:435
RESIST2:440
TRADING STRATEGY: SELL ON RISE
CS JEERA (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:11265
SUP2:11160
RESIST1:11320
RESIST2:11570
TRADING STRATEGY: SELL ON RISE
CS CRUDE (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:5950
SUP2:5930
RESIST1:6085
RESIST2:6145
TRADING STRATEGY: SELL ON RISE
CS TURMERIC (SEPTEMBER) OVERVIEW:
TREND BULLISH
SUP1:6770
SUP2:6650
RESIST1:6980
RESIST2:7070
TRADING STRATEGY: BUY ON DIPS
CS GOLD (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:28700
SUP2:28530
RESIST1:29185
RESIST2:29260
TRADING STRATEGY: BUY ON DIPS
CS SOYABEAN (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:3500
SUP2:3480
RESIST1:3615
RESIST2:3700
TRADING STRATEGY: SELL ON RISE
CS SILVER (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:43600
SUP2:43200
RESIST1:44800
RESIST2:45800
TRADING STRATEGY: BUY ON DIPS

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